Former TCW fund manager Jeffrey Gundlach has formed a strategic relationship with Oaktree Capital Management, which will back his new firm DoubleLine, according to a release from the new firm.

DoubleLine, which is expected to be based in Los Angeles, Calif., will manage core and MBS portfolios. Additionally, alternatives money manager Oaktree Capital Management will receive a minority equity position in the young firm and help to formulate its operational structure, the Dec. 14 press release stated.

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